SEC Filings10-K | CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/28/2014 | Entire Document | |
CINEMARK HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS In thousands, except share and per share data
Litigation and Litigation Settlements From time to time, the Company is
involved in other various legal proceedings arising from the ordinary course of its business operations, such as personal injury claims, employment matters, landlord-tenant disputes, patent claims and contractual disputes, some of which are covered
by insurance or by indemnification from vendors. The Company believes its potential liability with respect to these types of proceedings currently pending is not material, individually or in the aggregate, to the Companys financial position,
results of operations and cash flows.
The Company manages its international market and its U.S. market as separate reportable operating segments. The
international segment consists of operations in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala. The Company sold its theatres in Mexico on November 15, 2013. Each
segments revenue is derived from admissions and concession sales and other ancillary revenues, primarily screen advertising. The measure of segment profit and loss the Company uses to evaluate performance and allocate its resources is Adjusted
EBITDA, as defined in the reconciliation table below. The Company does not report asset information by segment because that information is not used to evaluate the performance or allocate resources between segments.
Below is a breakdown of select financial information by reportable operating segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2011 |
|
|
2012 |
|
|
2013 |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
$ |
1,593,667 |
|
|
$ |
1,706,511 |
|
|
$ |
1,912,674 |
|
International |
|
|
696,119 |
|
|
|
777,663 |
|
|
|
783,053 |
|
Eliminations |
|
|
(10,173 |
) |
|
|
(10,643 |
) |
|
|
(12,833 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues |
|
$ |
2,279,613 |
|
|
$ |
2,473,531 |
|
|
$ |
2,682,894 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2011 |
|
|
2012 |
|
|
2013 |
|
Adjusted EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
$ |
371,212 |
|
|
$ |
409,860 |
|
|
$ |
455,489 |
|
International |
|
|
148,261 |
|
|
|
179,375 |
|
|
|
169,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Adjusted EBITDA |
|
$ |
519,473 |
|
|
$ |
589,235 |
|
|
$ |
625,323 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2011 |
|
|
2012 |
|
|
2013 |
|
Capital expenditures: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
$ |
79,510 |
|
|
$ |
107,323 |
|
|
$ |
117,488 |
|
International |
|
|
105,309 |
|
|
|
113,404 |
|
|
|
142,182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total capital expenditures |
|
$ |
184,819 |
|
|
$ |
220,727 |
|
|
$ |
259,670 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
F-45
|
|